Skandinaviska Enskilda Banken AB publ Buys Shares of 64,782 Penumbra, Inc. (NYSE:PEN)

Skandinaviska Enskilda Banken AB publ purchased a new stake in Penumbra, Inc. (NYSE:PEN) during the second quarter, according to its most recent filing with the SEC. The firm purchased 64,782 shares of the company’s stock, valued at approximately $11,659,000. Skandinaviska Enskilda Banken AB publ owned 0.17% of Penumbra at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Penumbra by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,690,660 shares of the company’s stock valued at $823,681,000 after acquiring an additional 32,557 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Penumbra by 131.8% during the 1st quarter. Champlain Investment Partners LLC now owns 1,084,595 shares of the company’s stock valued at $242,060,000 after purchasing an additional 616,700 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Penumbra by 12.2% in the 1st quarter. William Blair Investment Management LLC now owns 833,703 shares of the company’s stock worth $186,066,000 after purchasing an additional 90,444 shares in the last quarter. Norges Bank purchased a new position in Penumbra during the 4th quarter worth $85,222,000. Finally, Bank of New York Mellon Corp increased its position in Penumbra by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 327,312 shares of the company’s stock valued at $58,906,000 after buying an additional 4,814 shares in the last quarter. 88.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Penumbra

In other news, EVP Johanna Roberts sold 600 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $179.20, for a total transaction of $107,520.00. Following the sale, the executive vice president now directly owns 62,288 shares of the company’s stock, valued at approximately $11,162,009.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Don W. Kassing sold 170 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $179.99, for a total value of $30,598.30. Following the completion of the sale, the director now owns 1,005 shares of the company’s stock, valued at approximately $180,889.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Johanna Roberts sold 600 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $179.20, for a total transaction of $107,520.00. Following the transaction, the executive vice president now owns 62,288 shares of the company’s stock, valued at $11,162,009.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,372 shares of company stock valued at $3,888,852. Corporate insiders own 5.00% of the company’s stock.

Penumbra Stock Down 2.9 %

Shares of PEN stock opened at $195.00 on Friday. Penumbra, Inc. has a twelve month low of $148.00 and a twelve month high of $277.34. The stock has a market cap of $7.56 billion, a P/E ratio of 82.28, a P/E/G ratio of 2.10 and a beta of 0.54. The stock has a 50 day moving average of $190.38 and a 200 day moving average of $199.00. The company has a current ratio of 6.25, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

Penumbra (NYSE:PEN) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. Penumbra had a net margin of 1.26% and a return on equity of 8.39%. The firm had revenue of $299.40 million during the quarter, compared to analyst estimates of $298.24 million. During the same period in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Penumbra, Inc. will post 2.63 EPS for the current year.

Penumbra announced that its board has approved a share repurchase program on Tuesday, August 13th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

PEN has been the topic of several recent analyst reports. Leerink Partnrs upgraded shares of Penumbra to a “strong-buy” rating in a report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Penumbra in a report on Wednesday, July 31st. Leerink Partners began coverage on shares of Penumbra in a report on Tuesday, September 3rd. They set an “outperform” rating and a $263.00 price objective on the stock. Citigroup raised their target price on Penumbra from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, Piper Sandler dropped their price target on Penumbra from $260.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Penumbra currently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

Penumbra Company Profile

Penumbra, Inc, together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. The company offers peripheral products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.